ZoomInfo falls after downbeat third-quarter revenue forecast

ZoomInfo Technologies

05/08/2024 22:05

** Shares of IT services and consulting firm ZoomInfo
Technologies  ZI.O  fall about ~11% to $8.7 in after-hours
trading
    ** Company lowers its annual revenue guidance to between
$1.19 bln and $1.21 bln, from prior projection of $1.26 bln
to$1.27 bln; analysts expect annual revenue of $1.26 bln - LSEG
data
    ** ZoomInfo sees Q3 revenue in the range of $298 mln to $301
mln vs ests. of $317.2 mln; adj. EPS between 21 cents to 22
cents vs ests of 25 cents
    ** Company posts Q2 revenue of $291.5 mln vs analysts' est.
of $307.7 mln
    ** Twelve of 24 brokerages rate stock "buy" or higher, nine
"hold" and three "sell" or lower; their median PT is $16- LSEG
    ** ZI has fallen 47% YTD

 (Reporting by Juby Babu in Mexico City)
 ((Juby.Babu@thomsonreuters.com;))